Amidst a bullish sentiment in the Solana and broader cryptocurrency market, well-known analyst Crypto Jelle has provided insights on SOL's price action, cautioning that a significant decline could bring the digital asset's price down to $140.

Crypto Jelle's analysis points out weakening momentum in Solana's price movement and anticipates challenges at resistance levels if the recent upward trend cannot be sustained. Over the past weeks, Solana has faced volatile market conditions, recently dropping from $161 to $149.

Highlighting SOL's failure to replicate bullish trends seen earlier this year, Crypto Jelle predicts a potential deep correction to $140. The inability to maintain upward momentum and overcome key resistance levels suggests potential bearish movements ahead, as observed by the analyst.

This warning comes amidst heightened volatility in the cryptocurrency market, emphasizing the unpredictable nature of digital assets and the importance of cautious trading strategies.

Regarding Solana's future trajectory, other analysts, including Credibull Crypto, have also weighed in, noting SOL's proximity to critical support and resistance levels that could determine its direction in the coming months.